News and Articles About Wal-Mart
The deal would help Wal-Mart better compete with Amazon.com and other online retailers.
It was not clear how much Wal-Mart would pay, but Jet.com could be worth as much as $3 billion.
This is also part of Wal-Mart's broader strategy to strengthen its e-commerce business at a time when its online sales growth is slowing.
The company had announced a slew of programs, including online grocery pick up and a partnership with ride-hailing app Uber to deliver groceries as it looks to boost online sales.
The deal will see the U.S. grocery giant swap its Yihaodian platform for a 5 percent stake in JD.com Inc., worth about $1.5 billion by the firm's latest market value.
The world's largest retailer raised wages for its hourly workers to $10 per hour earlier this year, but labor groups have called the raise inadequate.
Chief Executive Officer Doug McMillon spoke about initiatives such as online grocery pick up, the retailer's two-day shipping program and its mobile wallet, Wal-Mart Pay.
The world's largest retailer said it would begin test deliveries within the next two weeks in Denver and Phoenix.
'We are very pleased with the traffic increases, and I think that goes along with what we are seeing with customer experience scores that continue to improve,' CFO says.
Banks and payment network operators are favoring the use of chip cards verified by signatures
The retail giant wants to put smiling faces back at its entrances to curb theft and boost sales.
Implemented last year, the measure had increased the tax for on-island companies with more than $2.75 billion in revenues that buy goods from off-island 'related parties' to 6.5 percent from 2 percent.
A New York man is accusing the retail giant of deceptive business practices after the company's '100% Grated Parmesan Cheese' is found to contain almost 10 percent of a filler derived from wood chips.
The plaintiff claimed that Wal-Mart used her loss of a pharmacy key as a pretext for firing her in November 2012, when she was 47, after more than 13 years at the retailer.
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© 2016 Entrepreneur Media, Inc.